Aurora Cannabis (NYSE:ACB) is Canada’s second-biggest marijuana organization by income behind Canopy Development (NYSE:CGC), but expansion projects could catapult it into 1st spot someday. Aurora Cannabis went into this week with funded expansion projects targeting more than 550,000 kilograms annually and exiting this week, its plans are targeting more than 630,000 kilograms of peak marijuana production per year.
What’s going on
Marijuana has been applied medically or recreationally for thousands of years, nevertheless, its use became illegal in the U.S. in the 1930s and broadly prohibited worldwide in the 1960s simply because of treaties. Momentum to finish marijuana prohibition has been developing because the 1990s, even though. Final year, Canada became the 1st G7 nation with legal, healthcare and recreational, adult-use markets nationwide. In Germany and Australia, national healthcare marijuana markets have been produced, and 33 states have passed pro-pot laws in America, which includes 10 states with legal, adult-use laws.
The shift in how marijuana is regulated is building a huge chance for cannabis organizations. In Canada, spending on marijuana totals about six billion Canadian dollars per year and in the U.S., the marijuana marketplace is estimated to be worth about US$50 billion. Globally, the United Nations values the marijuana marketplace at about $150 billion. [Read more at The Motley Fool]